The sale by Monarch administrator KPMG came off the back of a Court of Appeal ruling giving KPMG the right to sell Monarch’s slots.

Administrator Blair Nimmo said the IAG sale represented an “excellent recovery for creditors from one of Monarch Airlines’ significant assets”.

Today, Wizz Air’s chief executive, József Váradi, said: “Following the announcements of establishing Wizz Air UK and our accelerated growth plan, just a few days ago here we go again.

“Acquiring airport slots and airport nightstands at Luton Airport will enable us to enhance our presence and competitive position in the London market.”

He added:

While Brexit will certainly pose challenges to the airline industry, we see it as an opportunity for Wizz Air, as our highly efficient low fare model will prevail even more under the new circumstances.